Buying and Selling Property at Auction

When you are buying or selling a home through an auction, you need conveyancing solicitors you can trust, who understand the process and who can support you through every step of the process. Buying or selling a property at auction is different and you need to be prepared. Our award-winning conveyancing team has a wealth of experience when it comes to handling sales and purchases through auction and will ensure that you go into any auction with your eyes open.

With offices throughout Cornwall and Devon, our property team have unrivalled local knowledge and will provide an efficient, friendly and, above all, expert service to you as approach an auction sale or purchase.

Selling a property at auction

Our specialist team will support you throughout the process of selling a property at auction. Before the auction we can assist by preparing the legal pack, including drafting special conditions for the auction contract, evidencing your title to the property and ordering any searches you require. If the property sells at auction, we will also deal with the post-auction completion process on your behalf.

Buying a property at auction

Buying a property at auction differs from the traditional house buying and conveyancing process. The timescales are usually tight and, on the day, you are in open competition with other bidders, many of whom may have more experience of auctions that you. It is also worth considering why the property is offered for sale at auction rather than via an estate agent or a private sale.

We recommend you proceed with caution and ensure you are as well-informed as possible about the property you intend to buy because, the moment the gavel falls and your bid is successful, you will be entering into a binding contract to complete the purchase – usually within 28 days of the auction date. Our large and award-winning residential property team has handled hundreds of auction purchases from clients throughout the South West. We know what to look out for and will help you make informed decisions about whether to proceed.

At Coodes we offer that specialist service for clients wishing to buy or sell in this way. With a network of offices across Cornwall and Devon we also have that important local knowledge to help everything go smoothly.

The auction process

Before the auction, you should have access to a legal pack outlining the nature, condition and title of the property. This is perhaps the most important step in the process and advise all prospective auction buyers to access this report as early as possible. We can help, provided we are instructed in good time, and preferably at least two weeks before the date of the auction. Please speak to us and we can explain the process, including the need for us to add an expedition fee if the timeframe is especially short.

Our auction property conveyancing service includes a review of the legal pack and providing you with a report on the title, searches and any associated documents. We will also point out any defects that we consider will affect your purchase and, while it may not be possible to rectify these, we will make recommendations as to how best to protect yourself if this is the case.

If you are successful at auction, we can act on your behalf in the post-auction completion process. We will also submit the Stamp Duty Land Tax return and register the property in your name at Land Registry.

Fees for auction sales and purchases

We recognise that you may be nervous about the legal costs of property transactions. That’s why we offer fixed fees for conveyancing, with no hidden costs. With Coodes as your auction solicitors, you’ll have complete certainty – about the process, the progress, and how much it’s going to cost.